After yesterday's massive drop in Ethereum from over $300 down to $13, many investors were hurt with margin calls and an overall loss of confidence in the cryptocurrency. I myself was a bit spooked at the sudden drop, but also relieved once the price rebounded as if it had never happened. Whatever the reason, rest assured that ETH has maintained its long term support and is close to breaking out of its recent holding pattern. The recent consolidation is healthy for any bull market and Ethereum is no exception. I will be watching for a break of the upper trendline. 